here is the link for targets financial report: https://corporate.target.com/_med
ID: 2795608 • Letter: H
Question
here is the link for targets financial report:
https://corporate.target.com/_media/TargetCorp/annualreports/2016/pdfs/Target-2016-Annual-Report.pdf?ext=.pdf
Instructions: Use the financial section of the January 28, 2017 annual report of Target to answer the following questions. The answers should immediately follow each question. When solving for a ratio, write the ratio and show any necessary calculations to receive credit. The answers should immediately follow each question. (EX: What is the current ratio? ANSWER: The current ratio is CA/CL = 100/50 =2). Use a different font to distinguish your answer from the question. All answers should be in your own words. Do not cut and paste from the annual report. Answers will be graded for content and written communication skills. Use complete sentences in answering questions where an explanation is requested. MAKE A NOTATION HERE IF THE DOLLAR AMOUNTS ARE STATED IN MILLIONS.
What are the amounts Target reports for total assets, total liabilities, and total stockholders’ equity in the balance sheet for the most recent year? Verify that the basic accounting equation balances.
What name does Target use for its income statement? What type of income statement does Target issue (multi-step or single step)? Explain
Which public accounting firm was Target’s external auditors?
Which states have the largest retail square footage?
What is the amount of cash and cash equivalents reported in the most two most recent years? By how much has cash and cash equivalents increased/decreased?
In the summary of significant accounting policies, what is Target’s procedure in accounting for inventory?
Calculate the current ratio for the past two years. Did the current ratio improve or weaken in the more recent years?
What is included in the discontinued operations segment of the financial reports?
Which depreciation method is used by Target? What are the estimated useful lives for buildings, leasehold improvements, and property and equipment?
As indicated in the Statement of cash flows, what is the amount of depreciation and amortization expense for each of the three years in the financial report?
What is the net cost of Property and Equipment at January 28, 2017 and January 30, 2016? What is the trend in property and equipment for the past two years?
What is the par value per share for the common stock?
What percentage of Target’s authorized stock was issued at January 28, 2017?
According to the balance sheet, how many outstanding shares does Target have on January 28, 2017?
Describe any preferred stock for Target Corporation?
What amount of cash dividends were paid (Use Statement of Cash Flows) for the year ended January 28, 2017?
What method does Target use for the Operating Section of the Statement of Cash Flows?
What is the largest investing activity outflow during the most recent year? (Indicate reconciling item and amount)
What is the largest financing activity inflow during the most recent year? (Indicate reconciling item and amount)
In two paragraphs or less indicate a couple of interesting items you learned while reading this annual report?
Explanation / Answer
1a.) Total Assets =$ 37,431 million
1b.) Total Liabilities =$ 26,478 million
1c.) Total Stockholders Equity =$ 10,953 million
2a.) Name used by Target for Income Statement = Consolidated Statement of Operations
2b.) Income Statement Issued by Target is Multi-Step
3.) Public Accounting Firm that served as Target's External Auditors = Ernst & Young LLP
4.)
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.